Macroeconomics I (ECON 503)

2021 Fall
Faculty of Arts and Social Sciences
Economics(ECON)
3
10
Remzi Kaygusuz rkaygusuz@sabanciuniv.edu,
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English
Doctoral, Master
--
Formal lecture
Interactive
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CONTENT

Traditional and endogenous growth theories real business cycles, overlapping generation models.

OBJECTIVE

In this course, main issues in modern macroeconomic theory will be discussed and modern macroeconomic tools and techniques will be extensively studied. The main topics that will be covered are Deterministic and Stochastic Neoclassical Growth Models, and Real Business Cycle Theory.

LEARNING OUTCOMES

  • On completion of the module, students should be able to a) set up and solve dynamic macroeconomic problems, b) develop intuitive economic reasoning to the problems they face, c) understand and illustrate the differences between competitive market outcomes and socially efficient outcomes.

PROGRAMME OUTCOMES


1. Develop and deepen the current and advanced knowledge in the field with original thought and/or research and come up with innovative definitions based on Master's degree qualifications 3

2. Conceive the interdisciplinary interaction which the field is related with ; come up with original solutions by using knowledge requiring proficiency on analysis, synthesis and assessment of new and complex ideas. 4

3. Evaluate and use new information within the field in a systematic approach. 4

4. Develop an innovative knowledge, method, design and/or practice or adapt an already known knowledge, method, design and/or practice to another field; research, conceive, design, adapt and implement an original subject. 5

5. Critical analysis, synthesis and evaluation of new and complex ideas. 4

6. Gain advanced level skills in the use of research methods in the field of study. 5

7. Contribute the progression in the field by producing an innovative idea, skill, design and/or practice or by adapting an already known idea, skill, design, and/or practice to a different field independently. 2

8. Broaden the borders of the knowledge in the field by producing or interpreting an original work or publishing at least one scientific paper in the field in national and/or international refereed journals. 2

9. Demonstrate leadership in contexts requiring innovative and interdisciplinary problem solving. 1

10. Develop new ideas and methods in the field by using high level mental processes such as creative and critical thinking, problem solving and decision making. 3

11. Investigate and improve social connections and their conducting norms and manage the actions to change them when necessary. 2

12. Defend original views when exchanging ideas in the field with professionals and communicate effectively by showing competence in the field. 4

13. Ability to communicate and discuss orally, in written and visually with peers by using a foreign language at least at a level of European Language Portfolio C1 General Level. 5

14. Contribute to the transition of the community to an information society and its sustainability process by introducing scientific, technological, social or cultural improvements. 4

15. Demonstrate functional interaction by using strategic decision making processes in solving problems encountered in the field. 4

16. Contribute to the solution finding process regarding social, scientific, cultural and ethical problems in the field and support the development of these values. 3


1. Develop the ability to use critical, analytical, and reflective thinking and reasoning 5

2. Reflect on social and ethical responsibilities in his/her professional life. 2

3. Gain experience and confidence in the dissemination of project/research outputs 3

4. Work responsibly and creatively as an individual or as a member or leader of a team and in multidisciplinary environments. 3

5. Communicate effectively by oral, written, graphical and technological means and have competency in English. 3

6. Independently reach and acquire information, and develop appreciation of the need for continuously learning and updating. 4


1. Develop, interpret and use statistical analyses in decision making. 4


1. Develop a thorough knowledge of theories, concepts, and research methods in the field and apply them in research design and data analysis. 5

2. Assess the impact of the economic, social, and political environment from a global, national and regional level. 4

3. Know how to access written and visual, primary and secondary sources of information, interpret concepts and data from a variety of sources in developing disciplinary and interdisciplinary analyses. 4


1. Construct reasoned arguments, synthesize relevant information, and critically analyze subject material. 5

2. Read and understand articles published in academic economics journals. 5

3. Come up with research questions about economic issues. 3

4. Construct a well-organized logical argument with clearly stated assumptions and hypotheses and, if necessary, be able to test or support it with relevant data. 4


1. Construct reasoned arguments, synthesize relevant information, and critically analyze subject material. 5

2. Read and understand articles published in academic economics journals. 5

3. Come up with research questions about economic issues. 3

4. Construct a well-organized logical argument with clearly stated assumptions and hypotheses and, if necessary, be able to test or support it with relevant data. 4

ASSESSMENT METHODS and CRITERIA

  Percentage (%)
Final 35
Midterm 35
Assignment 30

RECOMENDED or REQUIRED READINGS

Textbook

Nancy L. Stokey and Robert E. Lucas, Jr. with Edward C. Prescott, 1999, Recursive Methods in Economic Dynamics, Harvard University Press.
Lars Ljungqvist and Thomas Sargent, 2000, Recursive Macroeconomic Theory, The MIT Press.